United Kingdom prime minister unveils industrial strategy

United Kingdom prime minister unveils industrial strategy

The real difference between the previous government and the May administration is that the previous government had an industrial strategy but preferred not to call it that.

"An industrial strategy is more than a one-off programme of action, it needs ongoing development".

Britain will slash bureaucracy, boost broadband coverage and improve transport links in a post-Brexit industrial strategy, the Prime Minister will announce tomorrow. "We are inviting businesses and workers to contribute to this vision to help us create a highly skilled economy where every place can meet its potential". Number 10 said a new system of technical education will be built, benefiting the half of young people who choose not to go to university.

"Therefore sound digital infrastructure is key to the growth of the UK's digital economy and across all industries".

Mr Kinnock continued: "If we continue along the current path, characterised by a Government whose attitude can best be described as a toxic combination of incompetence and indifference, we will see the further decline of the industry and our communities".

And the Government will test moves to encourage lifelong learning, particularly in areas where industries are changing or in decline, including a review of whether to introduce maintenance loans for higher technical education.

Additionally the government will be spending £170m to create an Institutes of Technology to provide technical training to ensure the United Kingdom wouldn't fall behind nations such as China for a lack of skills.

European markets open lower on Brexit concerns
She warned that it would be "calamitously" harmful to Europe if it penalised the United Kingdom for leaving. Instead she said she would push for the "greatest possible" access to the market following Brexit.

The green paper also sets out plans to strengthen institutions in each part of the country, "to support their specific strengths".

"The investment that's being put in to the North West will translate into jobs for families, but the industrial strategy that we are launching today, and we will be consulting with businesses on this because we want to ensure that we get this right, is about the long term. This is how we shape a stronger future for the United Kingdom and also ensure we are building a fairer Britain and a better Britain".

"Government backing for these businesses - that have time and again demonstrated their appetite for growth, regardless of events - will demonstrate to both the wider United Kingdom and the rest of the world that the United Kingdom continues to be a place for those wanting excellence in reliability and quality". "It's also a means of saying to investors, both in this country and around the world, what we are going to do to be competitive in the future - whatever the outcome of Brexit is". We'd have more world leading companies, we'd create more high quality jobs, and we'd raise living standards.

The government will set out a long-term roadmap to minimise business energy costs later this year, with energy efficiency - or increased energy productivity - as one of its core pillars.

What does the sector think?

The new Industrial Strategy, published for consultation today, 23 January, aims to address the uneven distribution of opportunity and growth across the country.

"The Government must also ensure that governance at a regional level, whether through combined authorities, local enterprise partnerships, or metro mayors, should be able to work with development bodies that can intervene more widely and strategically at a regional level, and do smart specialisation through regional level industrial policies".